Indian shares ended Thursday’s trade sharply lower with benchmark indexes declining by over 2 percent triggered massive selling across sectors as macro-economic and global concerns dented trade sentiment. The Sensex settled 806 points lower, or 2.24 percent, to end at 35,169.16. The 50-share NSE Nifty also plunged 259 points, or 2.39 percent to close the day’s trade at 10,599.30.

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State-owned oil marketing companies HPCL, BPCL and IOC were the biggest losers on the NSE frontline index, hitting their 52-week lows after Finance Minister Arun Jaitley announced excise cut on petrol and diesel by Rs 1.50 per litre and putting an additional Rs 1 burden excise cut per litre on OMCs.

Apart from the OMCs, Reliance Industries ended the day lower by 8 percent, Eicher Motors at 7.5 percent. ICICI Bank shares gained, bucking the larger trend after the lender announced that its board has accepted CEO and MD Chanda Kochhar's resignation.

The bank has appointed Sandeep Bakshi as the new CEO and MD. Other gainers include Bharti Infratel, UltraTech Cement, Axis Bank and L&T. Indiabulls Housing Finance, Yes Bank, PowerGrid, Tata Steel also ended in the green.

(Market update as of 3.45 pm)

Noon update: Market tanks amid sustained selling across sectors; Sensex, Nifty down over 2%

Indian shares extended losses on Thursday noon, with the benchmark BSE Sensex falling more than 750 points in trade amid intense selling across sectors, including in index heavyweight shares of Reliance Industries Ltd (RIL), Tata Consultancy Services (TCS) and HDFC twins.

The Sensex tanked 778 points or 2.16 percent, to trade at 35,198 at 11.45 AM. The 50-share broader NSE Nifty 50 also declined by 2.24 percent or 243 points, to trade at 10,615.

After opening at the day's high of 35,820, the Sensex hit the day's low at 35,163. The Nifty too has seen a low of 10,605, after opening at 10,755.

Broader markets fell in tandem with frontline indices with losses over 2.3 percent, while all sectoral indices on the NSE traded in the red with Auto, FMCG, IT, Pharma and Realty posting losses of more than two percent.

Shares of Bharti Infratel, Yes Bank, L&T, Axis Bank, HPCL were among few stocks that traded in the green on indexes, while Eicher Motors, RIL, Hero MotoCorp, Bajaj Finance, TCS, Adani Ports were among top losers, falling by up to 6.72 percent.

Earlier, the rupee hit its lifetime low of 73.81 against the US dollar further denting investor sentiment.

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First Published:Oct 4, 2018 12:17 PM IST